The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has started the week off in impressive style, gaining 1.19% to 5,823 points.
The healthcare and financial sectors have posted particularly strong gains today, although a fall in the iron ore and gold price has hurt a number of big name miners.
While the majority of shares are in positive territory today, these four shares are enjoying an especially strong day:
Magellan Financial Group Ltd (ASX: MFG)
Shares of Magellan have spiked 3.6% today after the international fund manager reported a healthy increase in funds under management (FUM) for the month ending December 2016. FUM increased by $1.65 billion to $46.5 billion, helped by $115 million in net inflows, the depreciation of the Australian dollar and the strong performance of the US share market during the month.
Cochlear Limited (ASX: COH)
Shares of Cochlear have jumped more than 4% today, despite the absence of any news from the company. Although there does not appear to be an obvious catalyst for today's move, it is likely that investors are buying up shares of the bionic ear maker after they suffered a pretty weak end to 2016. Even with today's gains, the shares are still trading nearly 11% below their 52-week high of $144.12.
Slater & Gordon Limited (ASX: SGH)
Shares of Slater & Gordon have sky-rocketed more than 20% today, despite no news from the company. While the embattled law firm is still closely followed by many investors, the shares are now well and truly in the hands of traders and short term investors. This means it doesn't take much (including rumours) to get the shares moving in either direction and I wouldn't be surprised if the company receives an ASX 'speeding ticket' over the next day or so.
QBE Insurance Group Ltd (ASX: QBE)
Shares of QBE have climbed more than 3% today thanks to a rise in bond yields. Fellow insurer, Insurance Australia Group Ltd (ASX: IAG), is also enjoying a strong day with its shares rising 2.2%. Both companies benefit when bond yields increase as they have a significant portion of their customer premiums invested in fixed income investments. Another company that benefits from higher bond yields is Computershare Limited (ASX: CPU) which has seen its shares rise by 2.9% today.
